Even if it wouldn't be smaller or lighter than the E-30, which I own and which I still find to be quite on the large and heavy side for a camera with a sensor the size of 110 or "pocket" type film.
For me, though, the E-30 is still the best E-System camera around, because I would not want to carry the even heavier E-5.
But I do miss an up-to-date sensor as well as I do miss video capabilities.
The E-620, which I did own alongside the E-30 for one and a half year, on the other hand is a fine camera, too, but has too many small disadvantages for me, which made me finally sell it a couple of weeks ago: shutter, finder, AF, speed, handling and ergonomics are all slightly less good, which made me prefer the E-30 most of the time when I had to choose which camera to take with me, even if I would have wanted the set to carry rather light and small.
All in all, though, I'm getting more and more reluctant to invest more money in a system that, for me, is still lacking essential lenses (like fast wide-angle primes and telephoto lenses around 300mm f/4 or 400 mm f/5.6).
If there'd be a presentation of one or two new FT lenses alongside the E-50, if and when it comes, though... oh, well...
Cheers,
Robert